Heartland Media Acquisition announced that it will redeem all outstanding shares effective at the close of business Aug. 8. The SPAC will not be able to complete a merger by its deadline.
Shares cease trading today, the SPaC said.
The estimated per-share redemption price will be approximately $10.55.
Heartland Media raised $175 million in a January 2022 IPO to focus on businesses in the media, entertainment and sports sectors. Read more.
